Capital Clean Energy Carriers Corp (CCEC, Financial) shares slid after the company missed the earnings estimate for the third quarter by $0.20 per share, which is 41.67% below the analyst's Consensus Estimate of $0.48 per share. Based on pro forma figures excluding non-recurring items, this result is also lower than the $0.84 per share reported in the same period last year.
The company recorded quarterly revenue of $103.12 million, falling short of the market prediction by 14.57%. Nevertheless, this figure represents an increase from the $91.4 million recorded in the same period a year ago, though the revenue growth remains modest. Over the past four quarters, Capital Clean Energy Carriers have only once reported revenue that exceeded the consensus estimate.
In the previous quarter, the consensus estimate was $0.17 per share, and CCEC produced $0.40 per share, delivering an earnings surprise of 135.29%. Despite missing current earnings expectations, the stock remains up 30.6% year-to-date, outperforming the S&P 500's 25.2% return for the same period.
The company's immediate stock performance will largely depend on management's tone during the conference call and its outlook for future earnings and strategies. There is likely to be keen interest in any insights regarding operational strategy or market conditions that may impact future results.
